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America Movil to Invest $1 Billion in Argentina by Year-End

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Latin American mobile network operator, America Movil is planning to invest USD1 billion in its Argentinean subsidiary, Claro Argentina by the end of the year, the local government has announced.

Last month, a local newspaper quoted a government minister as saying Slim was expected to announce an investment of about $1.5 billion in Latin America's No. 3 economy, noted the Reuters News Agency.

According to the Mobile World analysts, Claro ended last year with 18.4 million customers, representing a market share of 35%.

On the web: Reuters - The Mobile World

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Tags: america movil  claro  planning  Argentina